Feb 16, 2013 1:00pm EST
president. >> in his state of the union address, president obama admitted the cuts were a really bad idea. what the president failed to mention is that the sequester was his idea and his administration during the dead limit negotiate. >> and president obama failed to mention the sequester, he made another pitch for the higher minimum wage and cutting the budget in general and can't allow huge cuts in social security and medicare. >> and that would force our senior citizens and working families to bear the burden of deficit reduction and others nothing more. >> and even with the looming crisis, congress is taking the next week off. >> kelly: thank you. >> congress can figure out a responsible way to deal with the looming financial crisis. angela mcglowan, and penny lee, joining me for this beautiful afternoon, ladies. >> thank you. >> we're not hearing any talk of compromise for a 11th hour deal being worked out. what are the consequences here and who will face the brunt of this, penny? >> well, unfortunately right now we're at a time in washington they don't face the crisis until it'
Feb 16, 2013 9:00am PST
. >> just this week, president obama said congress should get rid of tax breaks like this one. >> save hundreds of billions of dollars by getting rid of tax loopholes and deductions for the well off and the well connected. >> president obama has benefited tremendously from his popularity on social media and tax experts say that might be why he let's facebook get away with billion dollars tax breaks like this one. >> the president certainly had a double standard when it comes to picking out examples that help him advance his policy agenda. he often points to oil and gas companies taking questionable deductions, which are perfectly legal under the law. but he leaves out other companies like facebook that pay a low effective tax rate, but doesn't go after, again, which are perfectly legal and justified deductions, doesn't point them out and make them an example the same way does he in an industry like oil and gas. >> facebook got a $1 billion tax break in 2012. they carried over $2.2 billion in breaks to use in future years. so far facebook spokesperson has declined comment about the big
Feb 16, 2013 3:00pm PST
this looming crisis. >> in his state of the union address, president obama himself admitted that these cuts were a really bad idea. the president failed to mention was that the sequester was his idea, proposed by his administration during the debt limit negotiations. >> president obama made no mention of sequester in his saturday address, pointing out instead that progress has already been made in deficit reduction. >> over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion, which puts us more than halfway towards the goal of $4 trillion in deficit reduction that economists say we need to stabilize our finances. now we need to finish the job. >> in the midst of all this, congress taking next week off for president's day. arthel? >> arthel: i'm chuckling. steve, thank you very much. >> you bet. >> new reports say that murders thankfully are now plummeting in the notorious mexican city of juarez. clearly that is good news from a safety standpoint. but it's causing for some a viesing problem for the real estate market on the u.s. s
Feb 16, 2013 1:00pm PST
fantasy aspect to the obama's presidency and healthcare is going to pay for itself? yeah, right. we don't care where it goes it will be good for the economy. guess what, you fund solyndra instead of shovel ready projects. i will say this: the president is at his worst when he is most liberal. when the republicans actually won the house and picked up seats in the senate it's when he pushing for his big government agenda. when he backed off of that, that is when barack obama seems more reasonable. i think he is going to shoot himself in the foot with this stuff. >> neil: this is part of a much bigger problem that is coming across from prominent democrats not only avoiding the spending problem but dismissing it as problem at all. >> it is almost a false argument to say that we have a spending problem. >> i want to disagree with those that say we have a spending problem. when they talked about that, it's like there is an assumption somehow we as a nation is broke. >> neil: what do you think of that? >> i just could sense in my bones we were coming to nancy pelosi first on this subject.